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WTI looks to maintain momentum

The bounce from $55.00 gave dip-buyers a chance to hop on board the current uptrend for WTI. Although, if the price fails to push on back to $58.00, then we have a new lower high, a potentially bearish situation.

However, we would need to see a drop below $55.00 to create a new lower low. Below $55.00, and potential areas of support will be $54.05 and $52.93. Above $58.00, the price heads towards $62.56.

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